Securities Class Actions and Shareholder Derivative Litigation
Arnold & Porter regularly represents parties in the full range of private securities-related class actions, including class actions alleging securities fraud under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder as well as actions under Sections 11, 12(b), and 15 of the Securities Act of 1933.
We also have experience representing clients in actions under the Employee Retirement and Income Security Act (ERISA), which frequently are brought in tandem with securities fraud class actions.
The matters we handle include claims or charges of fraud and/or securities or regulatory violations, which may arise out of allegations involving improper financial reporting or other public disclosures, accounting errors or irregularities, the Foreign Corrupt Practices Act (FCPA), insider trading, stock manipulation, and other issues. We also have extensive experience representing clients in parallel government investigations.
In addition, our firm regularly represents client in shareholder derivative actions involving claims of fraud, breach of fiduciary duty, mismanagement, and negligence, which may arise out of allegations involving poor corporate governance, accounting errors or irregularities, inadequate internal controls, merger consideration, stock option administration, and other issues.
Our clients include corporations, corporate officers and directors, financial institutions, and accountants and other outside professionals. We handle matters across the nation involving a wide range of industries.
Our experience is recognized by major directors' and officers' liability insurers, who have included our firm on their panel lists of approved counsel for such matters.